Foreclosure Stats for 2nd Quarter 2012

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Foreclosure Report A QUARTERLY UPDATE ON THE ROLE OF FORECLOSURES IN THE REGION – PROVIDED BY THE METROPOLITAN INDIANAPOLIS BOARD OF REALTORS®

Number of Available Foreclosures for Sale 2,250

2,000

1,750

1,500

1,250

1,000

750

500 Q1-2004

Q1-2005

Q1-2006

Q1-2007

Q1-2008

Q1-2009

Q1-2010

Q1-2011

Q1-2012

Q2-2012 Update

Table of Contents

At 1,047, the number of active foreclosure listings is back on par with 2005 levels. Buyers have absorbed these bargain properties at a brisk pace. Foreclosed homes made up only 6.7 percent of all active listings as of the end of the second quarter.

New Listings, Closed Sales and Market Share of Foreclosures

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Inventory of Homes for Sale by Property Type and Price Range

3

Median Sales Price and Percent of Original List Price Received

4

Inventory, Closed Sales and Median Sales Price by Area

5

However, 14.5 percent of all new listings were in foreclosure, compared to 19.6 percent of all closed sales. The market share of closed foreclosure sales is down from 24.1 percent at this time last year, but the market share of foreclosed new listings is up from 10.0 percent last year. The pace at which foreclosed properties enter the market is worth keeping an eye on. Prices are beginning to rise; they've increased for the past four consecutive quarters. The overall median sales price was up 6.3 percent, marking the largest year-over-year gain since Q1-2010. Even so, foreclosures yield an average of 86.8 percent of list price while traditional homes yield 91.3 percent. Slowly but surely, recovery marches onward.

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Explanation of Methodology To provide a detailed look at the foreclosure phenomenon and its effect on our local housing market, we have harnessed the data available in the Broker Listing Cooperative® (BLC®). Whenever the field called Disclosure is listed as "Foreclosure," "Bank Owned" or "HUD-Owned" we have separated that property from those that do not contain these markers. This gives us the ability to view the housing market as two distinct segments: foreclosure and traditional. The following pages dig into foreclosure and traditional trends with greater detail.

Data obtained from the Broker Listing Cooperative® (BLC®). Powered by 10K Research and Marketing.


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